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Vivendi to cut SFR costs by €450m
15 May 2012
Vivendi plans 500 job cuts at French operator as it looks for savings of €450m
Vivendi’s French mobile operator SFR is planning to cut expenses by €450 million in 2012 through 500 job cuts, renegotiating deals with call centres and marketing spending cuts, reported Bloomberg citing sources and SFR’s unions.
SFR, now 100% owned by Vivendi after CEO Jean-Bernard Levy bought out Vodafone’s minority stake in 2011, has nearly 10,000 employees.
According to the sources, top executives have decided the budget and the cost reductions in order to balance an anticipated earnings decrease of 12% this year. GTB
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